On Monday, in the course of Morning trade, Shares of Celladon Corporation (NASDAQ:CLDN), drowned -79.28%, and is now trading at $2.84, hitting its lowest level.
Celladon Corporation, declared that its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints. CUPID2 is a randomized, double-blind, placebo-controlled, multinational trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent MYDICAR(R) (AAV1/SERCA2a) as compared to placebo added to a maximal, optimized heart failure drug and device regimen.
In the study, the primary endpoint comparison of MYDICAR to placebo resulted in a hazard ratio of 0.93 (0.53, 1.65 95%CI) (p=0.81), defined as heart failure-related hospitalizations or ambulatory treatment for worsening heart failure. The secondary endpoint comparison of MYDICAR to placebo, defined as all-cause death, need for a mechanical circulatory support device, or heart transplant, likewise failed to show a noteworthy treatment effect. The efficacy endpoint analyses were performed on the (n=243) modified intent to treat population (mITT), which excludes clinical events that occurred in patients who did not receive MYDICAR or placebo, or which occurred preceding to dosing. All other exploratory efficacy endpoints (improvement in New York Heart Association classification, 6 Minute Walk Test, and Quality of Life) were also incompriseent with a treatment effect. No safety issues were noted.
Celladon Corporation, a clinical-stage biotechnology company, focuses on developing cardiovascular gene therapy and calcium dysregulation. The company’s lead programs target SERCA enzymes, which are a family of enzymes that play an integral part in the regulation of intra-cellular calcium in all human cells.
On other hand, Shares of Akorn, Inc. (NASDAQ:AKRX), dropped -20.09%, and is now trading at $44.55.
Today, Akorn declared the following recent executive appointments for roles on the Akorn administration team:
- Jonathan Kafer, former Vice President, Account Administration at Allergan, Inc., was designated Executive Vice President, Sales and Marketing. In this newly-created role, Mr. Kafer will oversee all commercial functions for all of Akorn’s business units. Mr. Kafer will also play an integral role in planned market and product portfolio considerations.
- Randall Pollard was designated Vice President and Corporate Controller. In this role, Mr. Pollard will oversee all accounting and financial reporting functions within Akorn.
- Steve Lichter was designated Executive Vice President, Pharmaceutical Operations. In this newly created role, Mr. Lichter will oversee Akorn’s global supply chain and plant operations.
- Jaspreet Gill, former Vice President, Corporate Quality at Baxter, was designated Executive Vice President, Global Quality Compliance. In her newly created role at Akorn, Ms. Gill will oversee global regulatory compliance for all Akorn manufacturing sites in addition to members of Akorn’s supply chain.
Akorn, Inc. develops, manufactures, and markets generic and branded prescription pharmaceuticals, in addition to animal and over-the-counter (OTC) consumer health products in the United States and internationally. It operates through two segments, Prescription Pharmaceuticals and Consumer Health.
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